EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2018

EARNINGS PER SHARE

NOTE 9. EARNINGS PER SHARE

The following table represents the calculation of net earnings per common share – basic and diluted:

	First Quarter
(In millions, except per share amounts)	2018		2017
Basic Earnings Per Share
Numerator:
Net income from continuing operations	$	33	$	74
Income from discontinued operations, net of tax		8		42
Net income	$	41	$	116
Denominator:
Weighted-average shares outstanding		555		515
Basic earnings per share:
Continuing operations	$	0.06	$	0.14
Discontinued operations		0.01		0.08
Net earnings per share	$	0.07	$	0.22
Diluted Earnings Per Share
Numerator:
Net income from continuing operations	$	33	$	74
Income from discontinued operations, net of tax		8		42
Net income	$	41	$	116
Denominator:
Weighted-average shares outstanding		555		515
Effect of dilutive securities:
Stock options and restricted stock		8		17
Diluted weighted-average shares outstanding		563		532
Diluted earnings per share:
Continuing operations	$	0.06	$	0.14
Discontinued operations		0.01		0.08
Net diluted earnings per share	$	0.07	$	0.22

Awards of stock options and nonvested shares representing approximately 8 million and 4 million additional shares of common stock were outstanding for the first quarters of 2018 and 2017, respectively, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.